Ping An launches Rmb26 billion A-share CB

The deal comes with a 3.3% conversion premium versus the latest close and is expected to see a high take-up by existing shareholders.

Wasting no time since receiving regulatory approval at the end of last week, Ping An Insurance Group will open the order books for its long-awaited Rmb26 billion $4.2 billion domestic convertible bond on Friday.

The deal, which is set to become the largest CB issue in China’s domestic market this year, comes just days after the Chinese government announced a number of reforms that are viewed to be beneficial to the country’s life insurance sector,...

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